Fuel prices in Ghana are expected to see fresh changes in the upcoming June adjustment period, with petrol and LPG recording increases while diesel experiences a slight reduction.

The latest pricing outlook released by the National Petroleum Authority (NPA) shows that the petrol price floor has gone up from GH¢14.60 per litre in the latter part of May to GH¢15.20 per litre. This reflects an increase of GH¢0.60 per litre.

LPG is also expected to sell at a higher rate. The new price floor has been set at GH¢13.48 per kilogram, compared to GH¢13.16 per kilogram in the previous adjustment period, representing an increase of GH¢0.32.

Diesel, however, will record a marginal drop in price. The NPA has reduced the diesel price floor from GH¢15.81 per litre to GH¢15.49 per litre, marking a decrease of GH¢0.32.

According to the Authority, the changes were influenced by developments on the international petroleum market and other prevailing market conditions.

The NPA explained that the price floors represent the minimum rates at which Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) are permitted to sell petroleum products.

Under the Petroleum Products Pricing Guidelines, all fuel marketing companies are expected to comply with the approved prices for the adjustment period under review.

The Authority further clarified that the approved price floors do not cover premiums charged by International Oil Trading Companies (IOTCs), operating margins of Bulk Import, Distribution and Export Companies (BIDECs), as well as marketers’ and dealers’ margins which are determined independently.

The latest fuel price review comes after government revised its fuel relief measures introduced to reduce the impact of rising global fuel prices on consumers amid tensions in the Middle East.

As part of the changes, the GH¢0.36 per litre support on petrol was removed, while the GH¢2.00 per litre relief on diesel was reduced to GH¢1.07 per litre during the latter part of May.

Government says the revised intervention measures are expected to remain in effect for two adjustment periods, although further reviews may be carried out depending on market trends.